Grain > Commentary > 10-3-2022

10/3/2022

Oct 03, 2022

10/3/2022
The USDA started the day off an announcement of 110,000 MT of beans for unknown for 2022/23.  That might have helped beans get a little bit of their losses back from Friday's report.  Corn traded up a dime on the overnight, but pulled back to only 3 higher on the day.  After a friendly corn report on Friday, it would have been nice to see new highs today, but it didn't happen.  Harvest progress will be out tonight as it is in full swing in the north this week.  Corn harvest is expected to come in at 22% complete vs. 12% last week. Soybeans are expected to be at 20% vs. 8% last week. Yields remain variable as some are good and some not so good up here depending on rain fall and soil type.  Overall, I would say we are better than expected here.  The outside markets are seeing some movement today with the DOW up over 800 points, S&P up over 100 points, crude up close to $4/barrel, and the U.S. dollar down 454 points at 1:55 PM. 
 

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3/31/2025
Mar 31, 2025
USDA reported corn planting acres at 95.326 million acres of corn, which would be up a little more than 5% from 2024's final number and the second highest March figure of the last ten years behind only 2020's estimate of 96.99 mil acres.  US corn stocks as of March 1st were seen at 81.51 billion bushels, which was exactly what the trade had expected and was down just over 2% from March 1 of 2024.  USDA said farmers intended to plant 83.495 million acres of soybeans, which would be down about 4% from last year and was just a hair smaller than what the trade was looking for.  March 1 soybean stocks were pegged at 1.91 billion bu's, which again was nearly exactly as the trade had expected, and was up 3.5% compared to March 1, 2024.
3/11/2025
Mar 11, 2025
The monthly USDA WASDE report was today and it was about as boring as it can get.  The USDA took the month off leaving corn and beans carryouts unchanged.  Corn remains at 1.540 billion bushels and beans at 380 million bushels.  World ending stocks were slightly lowered on both corn and beans.  World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously.  World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously.  All of the South American crop production estimates were also left unchanged.  
8/30/2024
Aug 30, 2024
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